A Big Company with a Big Social and Digital Strategy

(Transferable ideas for small companies, too!)

Prudential is one of the largest insurance companies in the world. Being a leader in a heavily regulated industry means it has been slow to enter social and digital marketing space. But enter that space it has, and quite successfully.

Your Business Can, Too!
What Prudential executed can be replicated by other businesses seeking to start or increase not only their digital and social presence, but also engagement with their target audiences. And size doesn’t matter–even small shops can put some of Prudential’s concepts to work for them.

The US Market
In the US market and beyond the company’s website, Prudential has seized digital and social opportunities through microsites and social media utilizing engaging content through the more traditional ways, such as calculators and videos, to the more innovative, such as inforgraphics and gaming.

More Than One Audience
Prudential targets several audiences. Consumers to sell their products to, existing clients to sell more products to, financial advisors and institutions to sell their products for them, and more. Most are being touched in digital and social ways. And, while the branding is the same for all, the messages are custom-tailored to the needs of each.

Example: Engaging, Integrated Campaign
The company’s tagline is “Bring Your Challenges.” It can be seen in most of its advertising. To bring home what differentiates Prudential for the consumer audience, the company launched bringyourchallenges.com. On the site, users can, to name just a few examples:

The site also links to another microsite, “The Challenge Lab,” which depicts real people participating in real experiments with surprising, a-ha moments to compel positive changes in behavior. One example is the magnets experiment. The Lab also includes people telling their own, inspiring stories, such as “Chapter Two.”

In all cases, Prudential has delivered content that is easy to understand, engaging, and that users often share. And, of course, the call to action throughout is to click the “Find a Financial Professional” button.

Social Media That Links to Digital Content
Prudential reaches its audiences on Social Media in many ways. Here are some examples of where Prudential has a big presence and promotes its “Bring Your Challenges” content:

Your Business Can Mimic Prudential’s Strategy
Even without they type of budget Prudential has, your business can follow their social and digital lead.

  • Weave your brand throughout messaging.
  • Segment your audience to reach them where they are online.
  • Tailor your messages to each audience.
  • Deliver compelling content that’s innovative and engaging.
  • Keep content fresh.
  • Be as visually inviting as possible.
  • Keep language short, to-the-point, and easy to understand – digital and social media are (usually) no place for jargon.
  • Insert humor when and where appropriate.
  • Tell microstories about real people that will translate well to the target audience.
  • Invite responses from users (e.g., “Tell us about a time when…”, “What’s your favorite…”, etc.)

Bring YOUR Challenges–Let’s Get the Conversation Going!
Share your take-aways from Prudential’s strategy and let’s brainstorm ways to implement on them in your business. Post your ideas and challenges and we’ll work together on solving them to help bring your digital and social strategy, goals, and objectives to fruition.

Top 5 Take-Aways: Week 1

iVersity MOOC
Digital and Social Media Marketing
Homework : Week 1, Chapter 1
Top 5 Points

 

I’ve been a marketing professional for twenty-plus years; specifically, in the financial services industry. It’s heavily regulated, so the leap into social and digital hasn’t been a leap at all. In fact, it’s been a slow wading. Happily, we’ve got more than just our tows wet, so it’s important to learn as much as we can, as marketers, about the content we should produce, how we use it, and where we put it, along with how we measure it. To follow are the top five points I took away from Chapter One.

  1. Digital marketing is important today and will be for the future. It helps organizations to understand the marketplace (audiences) and what they need. Only then can they begin providing an offering that customers can make use of. Organizations are spending a lot more on digital marketing than traditional – it will be much more effective and a long term strategy for organizations of all sizes and types.
  2. Social media is a massive cultural shift that has profoundly changed how society uses the internet. It’s instantaneous and can be used for direct sales. But, more importantly, it can be used to form, nurture, and build relationships with customers.
  3. SWOT (Strengths, Weaknesses, Opportunities, Threats): What do our customers, competitors, stakeholders, investors, think of the business (opportunities? possible threats)? What is the internal analysis (what are the strengths and weaknesses of the organization?). Strategic planning seeks to understand the external and internal environment. SWOT is a useful tool in understanding where the organization currently sits and how can it improve itself, especially when compared to competitors (their SWOT).
  4. SMART (Specific, Measurable, Achievable, Realistic, Timely) – SMART is the objectives an organization sets for itself. Long term planning starts with identifying the SWOT, while SMART is what the company needs to do to achieve its long term goals. SMART is specific in it so objectives. Thos objectives must be measurable to understand if it been successful. Objectives must be achievable and realistic, so they should be well-thought out and planned for. And objectives need to be timely. SMART objectives are used alongside objective planning and also on an individual employee level, rolling up to the organization’s SMART objectives.
  5. There are two moments of truth in the online purchase journey. The first moment of truth is when consumers seek out information from Google, family, friends, etc. about a solution to a problem that a product or service can solve. They look at available alternatives for purchase, then make a decision and buy. The second moment of truth is when a consumer gives information on the internet/social media about their experiences with the company and/or product they chose. They will be candid, giving either positive and negative feedback on various forums.